In 2022, it is expected that the shoe packaging market would be worth US$5.9 billion. By 2032, the market for shoe packaging is anticipated to reach US$ 8.7 billion with a CAGR of 3.9%.
Since shoes are packaged in appealing boxes for protection, storage, transportation, and brand value communication with customers, there is a noticeable increase in the need for shoe packaging. No matter the attire, whether formal or casual, shoes are a component of daily wear. Shoes can be broadly divided into three categories: athletic shoes, casual shoes, and formal shoes. Each category has various packing requirements.
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Shoe Packaging Market: Market Dynamics
The footwear segment is estimated to be over US$ 200 billion, and is expected to grow at a CAGR of 4% over the forecast period. Strong market demand for shoes warrants considerable opportunities for the shoe packaging market. Need for delivering shoes in new and appealing manner primarily impels the global shoe packaging market.
The market for shoes has high consumption rates in countries including China, India and Indonesia, which makes Asia Pacific region one of the most lucrative shoe packaging market. Developed countries including US, Japan, UK, Russia and France are also among few other large markets for shoes.
Regions with money-spinning shoe markets are undergoing entry of numerous players in the sports and casual wear category. Multinational packaging manufacturers operating in the global shoe packaging market are targeting these attractive markets in order to magnify their global revenue figures.
Consumer studies have shown an increasing trend among urban population to prefer expensive footwear such as shoes over slippers or sandals. Resultantly, the shoe packaging market is expected to experience surge in demand. Wide categories of shoes supplied by footwear brands for different activities such as football, basketball, walking, running, etc.
has led consumers buy multiple pairs of the shoe while boosting the demand for shoe packaging market. However, decreasing natural resources and one time use of shoe packaging can hamper the shoe packaging market. Innovation in shoe packaging to make it more ecofriendly can provide new opportunities for shoe packaging market.
The ability of shoe packaging to attract more customers by increasing its aesthetic value can be used as an opportunity for shoe packaging market.
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Who are Some of the Prominent Rivals in the Shoe Packaging Market?
The market is highly competitive all around the region with expecting dynamic growth in the shoe packaging market. The prominent rival is playing a key role to provides cost-effective shoe packaging designer boxes with their innovative ideas.
To expand the business they are pursuing several methodologies such as partnerships, collaboration, mergers, and product launches among others to increase the shoe packaging market growth.
Recent Developments in the Shoe Packaging Market are:
Recently, one of the shoe packing industries named Metadog Design is surging its packaging as sustainable packaging. It develop further innovative shoe packaging which is budget friendly as compared to the ancient shoe boxes.
Some key players in shoe packaging market are as follows
- Elevated Packaging
- Packman Packaging Private Limited
- Royal Packers
- Precious Packaging
- Cross Country Box Company
- Samrat Box Mfg. Co. Pvt. Ltd
- Zhuhai ZhuoYa packing product Ltd
- Packaging of the World
- Sneakerbox Co.
Key Segments
By Types of Shoes:
- Leather shoes
- Long boots
- Short shoes
- Loafers
- Running shoes
- Casual shoes
By Types of Shoe Packaging:
- Sustainable reduced shoe boxes
- Reusable shoe packaging
- Tubular packaging
- Corrugated boxes
By Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- South Africa
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